Flutter Entertainment (NYSE:FLUT) Price Target Raised to $305.00

Flutter Entertainment (NYSE:FLUT) had its price target upped by BTIG Research from $249.00 to $305.00 in a research report released on Monday,Benzinga reports. They currently have a buy rating on the stock.

Several other equities research analysts also recently commented on FLUT. Bank of America began coverage on Flutter Entertainment in a report on Monday, October 14th. They set a “buy” rating and a $300.00 price objective for the company. Benchmark reaffirmed a “buy” rating and issued a $265.00 price objective on shares of Flutter Entertainment in a research note on Monday, October 14th. Craig Hallum boosted their target price on shares of Flutter Entertainment from $240.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Moffett Nathanson raised their price target on shares of Flutter Entertainment from $245.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Finally, Barclays boosted their price objective on Flutter Entertainment from $263.00 to $275.00 and gave the stock an “overweight” rating in a report on Thursday, September 26th. Fourteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Flutter Entertainment presently has a consensus rating of “Buy” and an average target price of $296.08.

Flutter Entertainment Stock Up 7.0 %

FLUT opened at $265.54 on Monday. Flutter Entertainment has a 1-year low of $149.00 and a 1-year high of $266.22. The company has a fifty day moving average price of $230.80 and a two-hundred day moving average price of $208.67.

Flutter Entertainment (NYSE:FLUT) last issued its earnings results on Tuesday, August 13th. The company reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $1.26. The firm had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.41 billion. On average, equities analysts expect that Flutter Entertainment will post 4.72 earnings per share for the current year.

Flutter Entertainment announced that its board has approved a share buyback program on Wednesday, September 25th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 11.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Flutter Entertainment

A number of hedge funds and other institutional investors have recently made changes to their positions in FLUT. Rothschild Investment LLC purchased a new position in Flutter Entertainment in the second quarter valued at about $37,000. CWM LLC purchased a new position in Flutter Entertainment in the second quarter valued at approximately $40,000. US Bancorp DE lifted its stake in Flutter Entertainment by 71.7% in the third quarter. US Bancorp DE now owns 237 shares of the company’s stock valued at $56,000 after purchasing an additional 99 shares during the last quarter. Venturi Wealth Management LLC bought a new position in Flutter Entertainment during the third quarter valued at $82,000. Finally, Hilltop National Bank purchased a new stake in Flutter Entertainment in the second quarter worth $101,000.

About Flutter Entertainment

Flutter Entertainment plc operates as a sports betting and gaming company in the United Kingdom, Ireland, Australia, the United States, Italy, and internationally. The company operates through four segments: UK & Ireland, Australia, International, and US. It offers sports betting, iGaming, daily fantasy sports, online racing wagering, and TV broadcasting products; sportsbooks and exchange sports betting products, and gaming products; and online sports betting.